IMF Approves Final Round Of Debt Relief For Poor Countries – Newspot

Advertisement


In this file photo an exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020 in Washington, DC. Olivier DOULIERY / AFP
In this file photo an exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020, in Washington, DC. Olivier DOULIERY / AFP

 

The IMF said Monday it had approved the fifth and final round of debt relief under a program meant to help the world’s poorest nations weather the Covid-19 pandemic.

The $115 million in relief under the Washington-based crisis lender’s Catastrophe Containment and Relief Trust (CCRT) affects debt service payments falling due for 25 member states between January 11 and April 13 of next year, the IMF said in a statement.

READ ALSO: Malawi Police Arrest Former Minister, Bank Chief For Lying To IMF

In the statement, the IMF said its directors view the CCRT relief as having “helped its poorest and most vulnerable members to free up resources to tackle the pandemic and its repercussions,” though they warn not all money pledged for the trust has been received.

The CCRT enables the IMF to provide grants to the poorest and most vulnerable countries hit by a natural disaster or public health crisis, and was tapped by the fund in April 2020 to aid the response to the Covid-19 pandemic.

AFP



Share your story or advertise with us: Whatsapp: +2347068606071 Email: info@newspotng.com


--Recommended Articles--